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COVENANTS 200304748
<br />1. Payments. Borrower agrees to make all payments on the swum) debt when due. Unless Ronwer and Lender agree otherwise, any payments Under reserves tram
<br />Borrower or for Borrower's benefit will he applied first to any amounts Borrower owes on the nmunil debt exclusive of interest or principal, second to interest, and then to
<br />principal. If partial prepayment ofthc swuml debt Occurs for any reason, it will not reduce m excuse any scheduled payment until the secured debt is paid in full.
<br />2. Claim Against Title Borrower will pay all taxes, assessments, and other charges atNbutable to the pmpeny when due and will defend title to the property against
<br />any claims which would impair the lien of this dad of tryst Lender may "one Bonnwer to assign any rights, claims or defenses which Borrower may have against
<br />Paribas who supply labor Or materials to improve or maintain the progeny.
<br />3. Insurance Bmmwer will keep the property insured under [ems acceptable to Lender at Borrower's expense and for lenders benefit. All Insurance paliciea shall
<br />include a smtdard mortgage clause is favor of Lender. lender will b, named as loss payee or as the insured on any such insurance policy. Any insurance proceeds may be
<br />applied, within fended s discretion, to either the restoration or repair of the dumaged property or to the secured debt. If Icader requires mortgage insurance, Borrower
<br />agrees to maintain such insurance for as long as Lender requires.
<br />0, Property. Borrower will keep the property in grad condition and make all repairs reasonably neveasary.
<br />5. Expenses. Boaccusur agrees to pay all Lender's expenses, including reasonable amamryi fees, if Borrower breaks any covenants in this deed of Post or in any
<br />abligationseconedbythisdoodefunist . Borrower will pay these amounts to Leader as provided in Covenant 9 of this deal aliment,
<br />6. Prior Security Interests. Unless Borrower first obtains Lender's written context; Borrower will Hot make at pemdt any changes many prior swunty interests.
<br />Borrower will perform all of Borrower's obligations under any prior mortgage, deed of east or othe ... only agreement, including Borrower's covenants to make payments
<br />When due.
<br />]. Assignmem c f Rants and Pewfitr. Buwrw,rttlbrgnaM{.ender rite rtnra mdProtlra ofMe pnvpiM. Unle» Borrower and tender hove agreed otherwise in writing,
<br />Roomer may collect and retain the rents as long as Burrower is not in default. If Borrower defaults, Lender, Lender's agent, or a court appointed receiver may take
<br />possession arts ravage the property and collect the rents. Any rents Lender collects shall be applied first to the cum of managing the pmpon,, including court costs sad
<br />attorneys' fact, commissions to rrnhit agents, and any other necessary related expenses. The remaining amount officials will then apply to payments on the seemed debt as
<br />presided in Covenant I.
<br />B. Leaseholds; Condoainiums; Planned Unit Developments. Borrower agrees to comply with the provisions of any lease if this dad of mast is on leasebuld. If this
<br />deed of tryst is on a and in a condominium nr a planned unit development, Borrower will perform all of Bonwer's duties under the cnvenamq bylaws, or regulations of
<br />the conduction. or planned and dcvclopment.
<br />9. Authority of Lender to Perform for Borrower. If Bonnwer fails to perfomt, any of Bmmwcr's duties under this deal of trust, ender may perform the duties or
<br />cause (hem to be performed. Lender may sign Borrower's name err pay any amount if necessary for performance. If any construction on the property is discontinued or not
<br />wined on in a reasonable mmmer, lender may do whatever is necessary to protect Lender's security intEresl in the property. This may include completing the construction.
<br />Lender's failure to perform will n tt preclude Lender firm exemising any of its ether rights under Ube law or this dced oftmst
<br />Any amounts paid by Under to protect Undoes security interest will be secured by this dad Of east Such amounts will be due m demand and will bear intcrtst fom the
<br />date of the payment until paid in full at the interest rate in effect on the secured debt.
<br />10. Default and Aeeelerstion. If Borrower fails to make any paymwl when due or breaks any cover arts under this deed final or any obligation secured by this decd of
<br />[rust or any prior rnurtgoge or deed of torn, Under may accelerate the maturity of the secured debt and demand insom late payment end may invoke the power of sale and
<br />any other remedies petrniticd by applicable law.
<br />11. Request for Nimcc of Default. It is hereby requested that copies of the notices of default and sale be seat to each person also is v pony berms, at the address of each
<br />such person, as set forth herein.
<br />12. Power of Sale. If the Lender invokes the power of alp the Trvsta shall first record in the office of the rcgis[a of dads of web county wherein the must property or
<br />some part or parcel thereof is situated a notice of default containing the infsommian ngniral by loss. The Trustee shag also mail .,be, of the notice of deferent to the
<br />Borrower, W each pur on who is a party hereto, and to otherpersons as prescribed by aptignable law. Nat less than one mONh rifler the Trost« records the voice of default,
<br />omens months if the east property is not is any incorporated city or village and is used in fanning operations cabled all by the tmsmr, the "I mstee shall give public notice of
<br />sale la the pecous and in the manner prescribed by applicable law. Trvstce, without demand on Bonnwer, shall sell the pmpeny, at public auction m the highest bidder. If
<br />required by the Farm Homestead Pralection Act, Tmstce shall offer the property in two separate sales as roquired by applicable law. Trustee ray postpone sale of all or any
<br />parcel of the Property by public announcement at the time and place Of any previously scheduled sale. Lender nr its designee may purchase the property a[ any sale.
<br />Upon receipt of payment of the price bid, Tmstce stall deliver to the pumhaser Tmatee's deed conveying the property llc raitials conWined in Tmsim's deal shall be
<br />puma fide evidience of the wth of the auternrnts conmivcd therein. Trustee shall apply the proceeds of the sale In the following order (a) to all expenses of the sale,
<br />including, but not limited to,.,. able Trvaee's fees, reasonable attomey's fees end rcitentlanrnt fens; (b) to all sums secured by this deed oftmst, and (c) the balance, if
<br />any, to the persons legally entitled to recrnc it.
<br />13. Foreclosure. At Lender's option, this deed oftmst may be famelnsed in the manner provided by applicable law for foreclosure of modprgw on real property.
<br />14. Inspection. Under say, enter the property to inspect it if Under gives Borrower notice beforehand, The entice must state the reasonable cause for Under's
<br />apection.
<br />15. Condemnation. Borrower ... i &a to Lender the proceed, of any award or claim for damages Conn oWd with a condemnation or other taking of all or any part of the
<br />property. Such proceeds will be applied as provided in Caveman 1. This assignment is subject to [he terms of any pnoreaunty agreement.
<br />16. Waiver. By cxemising any remedy available to Under, Lender does not give up any rights to later use any other remedy. By not cxcrtinng any remedy upon
<br />Borrowers default, [ender does not waive any fight to later consider the event a default if it happens again
<br />17. Joint and Several Wabli ty; Co- algmes; Sueeusaurs and Assigns Bound. All duties under this deed oftmst are joint and several. Any Borrower wbo ce -signs this
<br />deal of east but does not cs -sign the underlying debt instmmennos) does so only to giant and convey that Borwwei s interest in the property to the Tmstce under the terms
<br />of this decd of treat, la edditiom soh a Borrower agrees Plat the IeMm and any other Bonnwer under Nis deed oftmst may cxtrntl, modify or make any other changes in
<br />the tens of this deed oftrust or the secured debt without that Borrower's consent amt without releasing that Borrower form the terms ofthis deed of trust.
<br />The duties and benefits oftbia decd of oast shall bunt and benefit the successors and a signs of Under and Borrower
<br />r3. Notice. Unleai mheratsc requhd by 'uw, any move ro Borrower sh;N Its gism by deii.ering ii or by mailing it by certified mail addressed to Barmor at the
<br />progeny address Or soy other address that Borrower has given to Lender. Be.., will give any notice to Lender by certified mail to Under', address on page I of this
<br />deed oftrvsq or to any other address, which Lender has designated. Any other notice. Under shall he scatter Lender's address as sated on page 1 fthis diced oftmst.
<br />Any notice shell be deemed W hove been given to Borrower or Under when given in the manner stated above.
<br />19. Transfer of it a Property, or a Beneficial Interest in the Borrower. If all or any part of the property, or any interest in it is wld or tmafened without the Lender's
<br />poor women warn[, Lender may demand immediate payment of the .enured debt Lender may also demand immediate payment ifthe Borrower is not a natural person and
<br />a beneficial interest in the Borrower is sold or mareferr«I. However Lender may not denand payment in the above situation if it is prohibited by federal law as of the date
<br />of this deed of trust.
<br />20. Resourcefulness When the obligation aaure l by this dad of tmat has been paid, and Lender has an lumber obligation to make advances under the instmmenu or
<br />agreements secured by this deed of most, We Trustee shall, upon written request by the Leader the trust property, The Lender shell deriver to the Bonnwer, or to
<br />Ronnwer's sueccssnr iv interest the trust deed aver the note or other evidenw oCNe obligation so satisfied. Romewer shall pay any recordation costs.
<br />21. Suceesaor T...ft. Lender, at Lender's option, may mnove Tmste and appoint a successor uustce by first, mailing a copy oftbe substitution of tmtta as required
<br />by applicable law, and then, by filing the substitution armada, for nasal in the once of the register of deeds of ouch county in which the trust pmpeny, or more an
<br />thereof, is situated. The s uccws e. or trustee, without conveyance of the irmpong,, shall succeed to all the power, duties, authority and title of the IVoice amts in the deed of
<br />[Nfil and of any NCGE68ot tNSICC.
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